No. 23



BWAVE Pricing Report Submitted To NIOC Board

A report on Irans six-month trial of the IPEs Brent Weighted Average (BWAVE) benchmark for its western crude exports has been submitted to the board of the National Iranian Oil Company (NIOC), MEES learns. NIOC began on 1 January to base its crude oil prices for Europe and South Africa on the BWAVE reference published by the IPE, following the adoption last year of this datum by Saudi Aramco and Kuwait Petroleum...